ShippingWatch

Now comes the OW verdict all carriers are waiting for

After months spent being reviewed by UK courts, the Supreme Court will now issue its final decision concerning payments for bunker deliveries following the collapse of OW. The decision will impact carriers across the globe, both now and in the future, lawyer tells ShippingWatch.

Photo: OW Bunker

It will be an "incredibly principle verdict" for carriers as well as bunker companies across the globe when the UK Supreme Court on Wednesday this week presents its final verdict in the protracted case concerning bunker payments in the wake of the collapse of OW Bunker, says one of the key figures in the aftermath of the bankruptcy, Johannes Grove Nielsen, lawyer and partner at Copenhagen-based law firm Bech-Bruun, who has represented and consulted numerous carriers from all over the world in the legal battle against OW Bunker's bank, Dutch ING.

The process, which goes by the name Res Cogitans, has become the case that will decide, not just now but also going forward, whether a carrier must pay a bunker trader even when the trader has not paid the physical supplier.

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